Alaska Permanent Fund had invested millions in now-broke FTX crypto exchange

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The Alaska Permanent Fund is one of the institutional investors that had exposure to the bankrupt cryptocurrency exchange FTX, which filed for bankruptcy on Friday, along with 134 of its associated companies. There will be losses.

The Alaska Permanent Fund’s investments were through Sequoia Capital, headquartered in Menlo Park, Calif., and other venture capital firms. Sequoia sent a letter to its limited partners on Wednesday marking down the value of its investments in FTX to $0.

The Alaska Permanent Fund had committed as much as $200 million to Sequoia’s Global Growth Fund III, according to Pensions and Investments, an online blog. It was that fund that made the investment of up to $214 million of pooled money from various investors into FTX; thus, the Alaska Permanent Fund’s exposure was not the full amount.

Other institutional investors that had money tied up in FTX include the Ontario, Canada Teachers’ Pension Plan,…

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